Canadian Pacific Railway (CP) Downgrade Alert, Watch for 27.6% Technical Uptrend Reversal

Canadian Pacific Railway (NYSE:CP) downgraded to Neutral at UBS. The stock closed Friday at $50.07 on volume of 1,141,600 shares, above average daily volume of 852,211.

Canadian Pacific Railway is currently above its 50-day moving average of $41.98 and above its 200-day moving average of $35.40.

SmarTrend is bullish on shares of CP and our subscribers received an Uptrend alert on July 21, 2009 at $39.25, which has returned 27.6% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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Related terms: canada, market, nyse, securities